Charlotte Pipe and Foundry (Melissa Key)
CHARLOTTE — Charlotte Pipe and Foundry Co. has acquired two local properties for a combined $13.85 million over the past couple of months. That’s as a new chief executive takes the helm.
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The manufacturer purchased about 1.1 acres off Providence Road for $6.75 million on Nov. 1 from Thies Realty & Mortgage Co., according to Mecklenburg County real estate records. Thies Realty developed the building at 520 Providence Road for Mecklenburg Furniture in the mid-1960s. Mecklenburg Furniture operated at that location for over 40 years, a representative of Thies Realty told CBJ. When the furniture store vacated the space, Thies Realty began looking to sell the building.
On Dec. 21, Charlotte Pipe bought an acre parcel at 2215 Randolph Road for $7.1 million from TM Medical Properties Charlotte LP, according to county records. The property will be Charlotte Pipe’s fourth acquisition on the block, which is adjacent to the company’s headquarters at 2109 Randolph Road. Charlotte Pipe purchased two of the properties in the 1980s and the third in 2016.
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Earlier this month, the company announced that its board elected Hooper Hardison to become its next CEO. He succeeds Roddey Dowd Jr., who served as chief executive of Charlotte Pipe for nine years. Dowd will continue working full time in 2022 in his new role as board vice chairman, according to a news release from the company.
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